Forum: Holistic approach needed to tackle cancer care costs

The changes in cancer coverage for Integrated Shield Plans (IPs), namely in the sort of drugs and treatments that can be covered, have opened up potential financial heartache for families whose loved ones need cancer treatment (

IP riders may be regulated if cost of cancer care soars further,

April 22).

I am a financial adviser, and one of my clients was stricken with prostate cancer before the introduction of the Cancer Drug List. His medication, Darolutamide, costs him $5,000 a month at a restructured hospital. His insurer’s liability is $2,000 a month, but it will foot the whole $5,000 a month until February 2024, when his policy is up for renewal. After that, he will have to pay $3,000 a month.

Insurers have IP riders for cancer to help clients reduce their out-of-pocket payments for big bills. The Government may further regulate private healthcare insurance if the cost of cancer care continues to escalate. Shouldn’t pharmaceutical companies and doctors be subject to scrutiny as well?

Many years ago, IPs and riders were more affordable, but doctors have been charging high prices for their services, leading to insurers increasing their premiums. Premiums will continue to rise if doctors overcharge or mark up prices.

The article reported that as riders provide higher cancer coverage, their premiums will need to be priced higher. Health Minister Ong Ye Kung said if this results in fewer people buying riders, “I think we have addressed the problem”. But it may not be that simple.

Escalating cancer care costs will not just go away if people surrender their riders. In our battle to contain cancer treatment costs, we can’t just be targeting the insurers and capping coverage. Instead, the whole issue needs to be addressed holistically and from all angles.

Francis How Chee Kuen